2019 9-Month Financial Results INTRODUCTION
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2019 Financial Results INTRODUCTION
2019 Financial Results INTRODUCTION Turkey’s the largest private and 100% domestically owned company in defense industry A global company, intellectual property rights belong to itself and its products are in use on 5 continents as well as in more than 60 countries Turkey’s leading supplier and exporter of land platforms For the 11th time, the market leader in the total segments in which it operates 1 1 VISION & MISSION Vision Otokar’s vision is to preserve the local and national identity of its products by developing technologies in-house, also to provide continued satisfaction for its clients, employees, and shareholders with total excellence philosophy. Mission Otokar’s primary mission is to design, manufacture and market commercial vehicles and various defense industry products with global competitive strength, all developed to meet customer expectations. 2 2 BRIEF HISTORY 1963 1970s 1980s 1990s 2000s 2010s . Establishment .Turkey’s first .Production of .Military armoured .Merge with the .Establishment of Otokar . Production of interciy bus 4x4 tactical vehicles by own İstanbul Fruehauf Europe (OESAS) buses under .The first Turkish vehicle under desing A.S. .Multi-wheeled armoured the license of Armoured the license of .Turkey’s first .Production of small tactical vehicle family Magirus-Deutz Vehicle Land Rover export of tactical and mid size buses .Production of City Buses production armoured vehicle .Production of .Turkey’s first electric bus Turkey’s first hybrid .Atlas Light Truck .Partnering with .Sakarya bus .Introduced new armoured Koç Group plant/factory .The prime contractor tactical wheeled vehicle, URAL of ALTAY Project .Tracked Armoured Vehicle TULPAR .POYRAZ midibus .Establishment of Otokar Land Systems (OLS) in U.A.E .Turkey’s first electric armoured vehicle, AKREP Iıe .Establishment of Otokar Central Asia Limited (OCAL) 3 OVERVIEW Koç Holding USD 340 MILLION 45% EXPORT REVENUES IN 2019 FOUNDED IN 1963 SHAREHOLDING Ünver Holding A.Ş. -
Army Guide Monthly • Issue #5 (152)
Army G uide monthly # 5 (152) May 2017 BAE Teams With Ray Service to Support Swedish Mjolner Mortar Program NIOA joins Rheinmetall Defence Land 400 Team General Dynamics European Land Systems demonstrates the PIRANHA 8X8 Wheeled Armoured Vehicle to the Bulgarian Army Otokar showcases 15 vehicles at IDEF 2017 Supacat wins Queen’s Award for International Trade for Outstanding Short Term Growth FNSS Showcases the Future of Land Platforms at IDEF 2017 Oshkosh Defense Delivers Proposal For FMTV A2 Production L&T Wins Largest Private Sector Defence Order for Artillery Guns Elbit Systems Presents SPEAR MK2 – Latest Version of the Fully Autonomous Mortar System for Lightweight Combat Vehicles General Dynamics European Land Systems handover the first PIRANHA Wheeled Armoured Vehicle to Denmark The 8x8 CAESAR® artillery system has been selected by Denmark to equip the Danish land forces www.army-guide.com Army Guide Monthly • #5 (152) • May 2017 Defence Industry Rheinmetall Defence Australia today announced Brisbane-based NIOA as the company’s key supplier BAE Teams With Ray Service to Support of ammunition and armament services for its Land Swedish Mjolner Mortar Program 400 Phase 2 offer to the Commonwealth of Australia. The partnership between the two companies is underpinned by a commercial relationship spanning 20 years and a shared commitment towards placing BAE Systems has contracted Czech manufacturer Australian Industry Capability at the centre of Ray Service to deliver key components for the Rheinmetall’s offer to deliver the BOXER CRV -
Defence Turkey an Interview with Mr.Leventissue Şenel 33/2012 on Turkish Land Platforms
1 DEFENCE TURKEY AN INTERVIEW WITH MR.LEVENTISSUE ŞENEL 33/2012 ON TURKISH LAND PLATFORMS TURKISH LAND FORCES: VOLUME 7 ISSUE 37 YEAR 2012 ISSN 1206 6000 A BRIGHT STAR IN PEACE AN OVERVIEW ON TURKISH LAND PLATFORMS FNSS INCREASE ITS POWER WITH JOINT PRODUCTION AN ARTICLE ON ARMOURED LAND VEHICLES AND TURKEY THE FIRST PROTOTYPES OF ALTAY TNMBT DEMONSTRATED THEIR MOBILITY RADAR AND ELECTRONIC WARFARE SOLUTIONS IN LAND PLATFORMS SPECIAL ISSUE LAND SYSTEMS DEFENCE TURKEY 2 ISSUE 33/2012 VOLUME: 7 ISSUE: 37 YEAR: 2012 ISSN 1206 6000 Publisher Company İmge Co. 6 Publisher & Editor in Chief Ayşe AKALIN [email protected] General Coordinator Cem AKALIN [email protected] Administrative Coordinator Yeşim BİLGİNOĞLU [email protected] Translation Tanyel AKMAN 14 [email protected] Graphics & Design Gülsemin BOLAT Görkem ELMAS [email protected] Advisory Board (R) Major General Fahir ALTAN (R) Navy Captain Zafer BETONER (R) Col. Fevzi BARUTÇU Prof Dr. Nafiz ALEMDAROĞLU Asst. Prof. Dr. Altan ÖZKİL Kaya YAZGAN 22 Philipp REUTER Ali KALIPÇI Nadir BIYIKOĞLU Zeynep KAREL İMGE Co. Mahatma Gandi Cad. No:33/7 06700 GOP-Ankara / Turkey DEFENCE TURKEY Administrative Office Mahatma Gandi Cad. No:33/7 06700 GOP-Ankara / Turkey Tel: +90 (312) 447 1320 [email protected] 24 www.defence-turkey.com Printing Görsel Grup Basım İstanbul Caddesi, İstanbul Çarşısı Kat:2 No:4864 İskitler / Ankara Tel: (0312) 428 88 53 www.gorselbasim.com.tr Basım Tarihi EKİM - KASIM 2012 Yayın Türü Süreli İMGE Co. 50 © All rights reserved. No part of publication may be reproduced by any means without written permission. -
Turkey to Mass Produce Altay Tank
MIDDLE EAST, NORTH AFRICA Turkey to Mass Produce Altay Tank OE Watch Commentary: On 9 November 2018 the Presidency “The contract for the mass production of (Turkish) of Defense Industries of Turkey (SSB in its Turkish acronym) signed a deal with Turkish defense contractor BMC to mass Altay tank was signed in a ceremony at the state produce 250 Altay main battle tanks. The Altay tank is believed to Defense Industries Presidency (SSB).” be an improved version of South Korea’s K2 Black Panther tank. The accompanying passage from the state-owned Anadolu Ajansı Source: Necati Keleş, “Altay tankının seri üretim sözleşmesi imzalandı provides information about the agreement for the production of (Contract signed for the mass production of Altay tank),” Anadolu Ajansı, 9 November 2018. https://www.aa.com.tr/tr/gunun-basliklari/ Altay tanks. altay-tankinin-seri-uretim-sozlesmesi-imzalandi/1306982 According to the passage, in the initial phase, 250 Altay tanks will be manufactured and the Turkish Land Forces Command will The contract for the mass production of Altay tank was signed in a ceremony at the state Defense Industries Presidency (SSB)… receive the delivery of the first tank within 18 months. The Turkish and Qatari joint venture BMC will manufacture the tank, with …The state Defense Industries President [Ismail] Demir, ... armored additional involvement of Turkish firms Roketsan, Aselsan, MKE vehicle maker BMC’s Chairman Ethem Sancak, Chairman of Aselsan Haluk Görgün, and General Manager of Roketsan Selçuk Yasar were and Havelsan. BMC’s CEO Ethem Sancak, during the signing present at the signing ceremony for the Altay [tank] mass production ceremony, stated that SSB and the Turkish armed forces requested contract. -
Otokar 2019 Annual Report
OTOKAR 2019 ANNUAL REPORT CONTENTS 2 CHAIRMAN’S MESSAGE 4 ABOUT 6 OTOKAR IN NUMBERS 8 SUMMARY FINANCIAL INFORMATION 10 AREAS OF OPERATION 12 MILESTONES 14 HIGHLIGHTS OF 2019 18 GENERAL ASSEMBLY 38 COMMERCIAL VEHICLES 40 DEFENSE INDUSTRY 42 R&D ACTIVITIES 44 CREATING VALUE FOR STAKEHOLDERS 46 DIGITAL TRANSFORMATION 48 SUSTAINABILITY 50 HUMAN RESOURCES 52 INVESTOR RELATIONS 54 FUTURE 56 CORPORATE GOVERNANCE 72 FINANCIAL STATEMENTS 149 INFORMATION DOCUMENTS 154 CORPORATE GOVERNANCE COMPLIANCE REPORT 166 GLOSSARY WE EMBARKED ON A JOURNEY WITH THE IDEA OF INTRODUCING A FIRST IN OUR COUNTRY. WE WORKED HARD AND WENT FAR WITH FIRM STEPS. INNOVATIONS AND NEW FIRSTS FOLLOWED. ON EVERY PATH WE SET OFF, SAYING, “WE CAN!”, WE PROVED OURSELVES. WE TRANSCENDED BORDERS WITH OUR NAME AND OPENED UP TO THE WORLD. WE STARTED TO TRAVEL THE ROADS IN MORE THAN 60 COUNTRIES ON FIVE CONTINENTS. WE CONTINUED TO PURSUE OUR GOALS WITH DETERMINATION. EMPOWERED BY OUR PROUD ACHIEVEMENTS, WE NEVER LOST SIGHT OF OUR GOALS. WE ARE ON A JOURNEY TOWARD THE FUTURE SINCE THE VERY FIRST DAY, ALWAYS AIMING TO STAY AHEAD OF THE CURVE, AND TAKING EACH STEP WITH EYES FIRMLY FIXED ON OUR GOALS. WE ARE READY FOR THE FUTURE! OVERVIEW GENERAL ASSEMBLY OTOKAR IN 2019 CORPORATE GOVERNANCE FINANCIAL STATEMENTS INFORMATION DOCUMENT CORPORATE GOVERNANCE COMPLIANCE REPORT CHAIRMAN’S MESSAGE OTOKAR CONTINUED TO REMAIN FOCUSED ON THE LONG-TERM GOALS AND ACHIEVED A RECORD GROWTH OF 45 PERCENT IN 2019 WITH TL 2.4 BILLION IN SALES. 2 OTOKAR 2019 ANNUAL REPORT Esteemed Shareholders, Partners domestic market, we continued to In commercial vehicles, our 2020 and Employees, be the most preferred bus brand target is to increase bus sales globally in our specifc segments, with one and especially in the European I am proud to report that 2019 was a out of every three buses sold in market. -
Looking Ahead Is the Key for Progress… Contents
Annual Report looking ahead is the key for progress… Contents 3 Vision 34 Corporate Governance 62 Reports and Financial Statements 3 Mission 36 Members of the Board of 63 Report by the Committee 4 Otokar in Brief Directors and Committees Responsible from Audit 6 1963-2013 Milestones 37 CV’s of Nominees for the Board of 65 Independent Auditors’ Report Directors 8 Otokar’s Competitive Advantages 67 Financial Statements and Notes 38 Declarations of Independence of 10 Otokar’s Operational Lines 124 Information Document the Board of Directors Nominees 12 Key Indicators 39 Remuneration Policy 16 Chairman’s Message 40 Independent Auditor Report on 18 Board of Directors Annual Report 20 Senior Management 41 Meeting Agenda 22 2013 Activities 42 Board of Directors Report 24 Commercial Vehicles 46 Profit Distribution Policy 24 Public Transportation 47 Profit Distribution Proposal 25 Logistic Vehicles 48 Legal Disclosures 26 Defence Industry 49 Corporate Governance Principles 28 R&D Operations Compliance Report 29 Productivity Operations 58 Risk Management 30 After Sales Services 60 Internal Control System and 31 Toward the Future… Internal Audit 32 Sustainability 60 Report on Related Parties 32 Corporate Social Responsibility 61 Report on Affiliated Companies 32 Environment 33 Human Resources The most important attributes which have made placed Otokar in the position it is today are its dedication to always stand by its customers, and to produce solutions for their expectations, needs and requests in the most ideal manner. As one of the building blocks in the development of the Turkish automotive industry, Otokar has lit the torch which it has been carrying with the same excitement and belief for 50 years. -
Crescent Moon Rising? Turkish Defence Industrial Capability Analysed
Volume 4 Number 2 April/May 2013 Crescent moon rising? Turkish defence industrial capability analysed SETTING TOOLS OF FIT FOR THE SCENE THE TRADE PURPOSE Urban combat training Squad support weapons Body armour technology www.landwarfareintl.com LWI_AprMay13_Cover.indd 1 26/04/2013 12:27:41 Wescam-Land Warfare Int-ad-April 2013_Layout 1 13-03-07 2:49 PM Page 1 IDENTIFY AND DOMINATE L-3’s MXTM- RSTA: A Highly Modular Reconnaissance, Surveillance and Target Acquisition Sighting System • Configurable as a Recce or independent vehicle sighting system • Incorporate electro-optical/infrared imaging and laser payloads that match your budget and mission portfolio • 4-axis stabilization allows for superior on-the-move imaging capability • Unrivaled ruggedization enables continuous performance under the harshest climates and terrain conditions MX-RSTA To learn more, visit www.wescam.com. WESCAM L-3com.com LWI_AprMay13_IFC.indd 2 26/04/2013 12:29:01 CONTENTS Front cover: The 8x8 Pars is one of a growing range of armoured vehicles developed in Turkey. (Image: FNSS/Lorna Francis) Editor Darren Lake. [email protected] Deputy Editor Tim Fish. [email protected] North America Editor Scott R Gourley. [email protected] Tel: +1 (707) 822 7204 European Editor Ian Kemp. [email protected] 3 EDITORIAL COMMENT Staff Reporters Beth Stevenson, Jonathan Tringham Export drive Defence Analyst Joyce de Thouars 4 NEWS Contributors • Draft RfP outlines US Army AMPV requirements Claire Apthorp, Gordon Arthur, Mike Bryant, Peter Donaldson, • Navistar delivers first Afghan armoured cabs Jim Dorschner, Christopher F Foss, • Canada solicits bids for integrated soldier system Helmoed Römer Heitman, Rod Rayward • KMW seals Qatar tank and artillery deal Production Manager • Dutch Cheetah air defence guns sold to Jordan David Hurst Sub-editor Adam Wakeling 7 HOME GROWN Commercial Manager Over the past three decades, Turkey has gradually Jackie Hall. -
Experimental and Numerical Approaches to Evaluate the Crushing Behavior of Combined Geometry Core Sandwich Structures Against Blast
EXPERIMENTAL AND NUMERICAL APPROACHES TO EVALUATE THE CRUSHING BEHAVIOR OF COMBINED GEOMETRY CORE SANDWICH STRUCTURES AGAINST BLAST A Thesis Submitted to The Graduate School of Engineering and Sciences of İzmir Institute of Technology in Partial Fulfillment of the Requirements for the Degree of DOCTOR OF PHILOSOPHY in Mechanical Engineering by Ali KARA July 2015 İZMİR We approve the thesis of Ali KARA12 points Student's name (bold) Examining Committee Members: ______________________________________ Assoc. Prof. Dr. Alper TAŞDEMİRCİ Department of Mechanical Engineering, İzmir Institute of Technology ______________________________________ Prof. Dr. Ramazan KARAKUZU Department of Mechanical Engineering, Dokuz Eylül University ______________________________________ Assist. Prof. Dr. H. Seçil ARTEM Department of Mechanical Engineering, İzmir Institute of Technology ______________________________________ Prof. Dr. Hakan ÇETİNEL Department of Mechanical Engineering, Celal Bayar University ______________________________________ Assoc. Prof. Dr. Buket OKUTAN BABA Department of Mechanical Engineering, Celal Bayar University 09 July 2015 ________________________ ________________________ Assoc. Prof. Dr. Alper TAŞDEMİRCİ Prof. Dr. Mustafa GÜDEN Supervisor, Department of Co-Supervisor, Department of Mechanical Engineering Mechanical Engineering İzmir Institute of Technology İzmir Institute of Technology ________________________ ________________________ Prof. Dr. Metin TANOĞLU Prof. Dr. Bilge KARAÇALI Head of the Department of Dean of the Graduate School of Mechanical Engineering Engineering and Sciences ACKNOWLEDGEMENTS Firstly I would like to thank to my supervisor Assoc. Prof. Dr. Alper TAŞDEMİRCİ for accepting me to unique Dynamic Testing and Modeling Laboratory, for his lead the way for me in the high strain rate universe, and for the great contributions, encouragement, and support during my studies even at the times that I feel desperate. Secondly, I would like to thank to my co-supervisor Prof. -
Security & Defence European
a 7.90 D 14974 E D European & Security ES & Defence 1/2019 International Security and Defence Journal ISSN 1617-7983 • Armoured Vehicles www.euro-sd.com • UK Programmes • Armament Options • • US Army Armoured Systems • Armoured Ambulances • Tyre and Track Technology • Engineer Vehicles January 2019 • Crew Protection • Discreet Armour Politics · Armed Forces · Procurement · Technology The backbone of every strong troop. Mercedes-Benz Defence Vehicles. When your mission is clear. When there’s no road for miles around. And when you need to give all you’ve got, your equipment needs to be the best. At times like these, we’re right by your side. Mercedes-Benz Defence Vehicles: armoured, highly capable off-road and logistics vehicles with payloads ranging from 0.5 to 110 t. Mobilising safety and efficiency: www.mercedes-benz.com/defence-vehicles Editorial ARMOURED VEHICLES FOCUS Improved Protection for Vehicle-Borne Task Forces As always, most of us started the New Year with wishes for peace and happiness. However, in countless continued conflicts large and small, people are being killed, maimed or injured, landscapes and cultural treasures are being destroyed, defaced and damaged, and national assets and resources are being plundered and squandered. In land-based operations to defeat these threats and their accompanying realities, the focus falls on soldiers, security forces and first responders who – often at the risk of their own lives – protect people, enforce justice and guard assets on behalf of their governments. These are dangerous jobs, and there is a clear duty of care upon the employers for the health and well-being of their “human assets”. -
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MENU Policy Analysis / PolicyWatch 2490 The Escalating Northern Front in Yemen by Michael Knights, Alex Almeida Sep 24, 2015 Also available in Arabic ABOUT THE AUTHORS Michael Knights Michael Knights is the Boston-based Jill and Jay Bernstein Fellow of The Washington Institute, specializing in the military and security affairs of Iraq, Iran, and the Persian Gulf states. Alex Almeida Alex Almeida is the head security analyst at a leading risk advisory firm. Brief Analysis The GCC-backed ground campaign to liberate Sana is building momentum, but urgent points of focus for U.S. security cooperation are becoming evident as Houthi resistance stiffens. ince liberating the southern port city of Aden in July, forces loyal to Yemeni president Hadi Abdu Rabu S Mansour and their Gulf Cooperation Council (GCC) allies have been engaged in a multipronged offensive to roll back Houthi control of the south. The United Arab Emirates mechanized brigade task force and Egyptian special forces backed by Emirati and Saudi AH-64 Apache helicopters are now battling to control Taizz, Yemen's third- largest city. Similar task forces have fanned out into Abyan, Bayda, and Ibb provinces, advancing within a hundred kilometers of the capital and liberating the Balhaf oil terminal. Houthi resistance has been stiffening in recent weeks, however. On August 25, a UAE-supported column ran into a Houthi ambush near Mukayras in Bayda province, losing at least seven UAE-supplied mine-resistant ambush- protected (MRAP) vehicles. The northward advance on Sana is now pausing as a second front develops from the east. EASTERN FRONT AGAINST SANA n August 7, an armored column entered Yemen's Marib province from Saudi Arabia at al-Wadiah border Ocrossing, composed of UAE ground troops and Saudi-trained Hadi loyalists. -
Anatolian Eagle 2019 Training Exercise Conducted
VOLUME 13 ISSUE 93 YEAR 2019 ISSN 1306 5998 AN EXCLUSIVE INTERVIEW WITH FNSS GENERAL MANAGER & CEO NAIL KURT TURKISH DEFENCE INDUSTRY’S LATEST INDIGENOUS SOLUTIONS MAKE THEIR DEBUT AT HONEYWELL TURKEY’S VALUABLE CONTRIBUTION TO THE TURKISH DEFENCE INDUSTRY ANATOLIAN EAGLE 2019 KURTARAN 2019 MILITARY EXERCISE TRAINING EXERCISE ISSUE 93/2019 1 DEFENCE TURKEY VOLUME: 13 ISSUE: 93 YEAR: 2019 ISSN 1306 5998 Publisher Hatice Ayşe EVERS 6 Publisher & Editor in Chief Ayşe EVERS [email protected] Managing Editor Cem AKALIN [email protected] Editor İbrahim SÜNNETÇİ [email protected] Administrative Coordinator Yeşim BİLGİNOĞLU YÖRÜK [email protected] International Relations Director Şebnem AKALIN [email protected] 16 Correspondent Saffet UYANIK [email protected] Translation Tanyel AKMAN [email protected] Editing Mona Melleberg YÜKSELTÜRK Robert EVERS Graphics & Design Gülsemin BOLAT Görkem ELMAS [email protected] Photographer Sinan Niyazi KUTSAL 38 Advisory Board (R) Major General Fahir ALTAN (R) Navy Captain Zafer BETONER Prof Dr. Nafiz ALEMDAROĞLU Cem KOÇ Asst. Prof. Dr. Altan ÖZKİL Kaya YAZGAN Ali KALIPÇI Zeynep KAREL DEFENCE TURKEY Administrative Office DT Medya LTD.STI Güneypark Kümeevleri (Sinpaş Altınoran) Kule 3 No:142 Çankaya Ankara / Turkey Tel: +90 (312) 447 1320 [email protected] www.defenceturkey.com 46 Printing Demir Ofis Kırtasiye Perpa Ticaret Merkezi B Blok Kat:8 No:936 Şişli / İstanbul Tel: +90 212 222 26 36 [email protected] www.demirofiskirtasiye.com Basım Tarihi Haziran - Temmuz 2019 Yayın Türü Süreli DT Medya LTD. ŞTİ. © All rights reserved. No part of publication may be reproduced by any means without written permission. -
Battle Tank Next Generation Main Battle Tank Upgrade Solutions
MAIN BATTLE TANK NEXT GENERATION MAIN BATTLE TANK UPGRADE SOLUTIONS www.aselsan.com.trwww.aselsan.com SST-MAIN BATTLE TANK/E001 / 04-2017 TANK/E001 BATTLE SST-MAIN MAIN BATTLE TANK Next Generation Main Battle System Characteristics 10%. Tank Upgrade Solutions • Improved Fire Power ± • Next Generation Fire Control System ASELSAN presents her state of the art “Next Generation MBT • Electrical Gun and Turret Drives Upgrade Solution”; for heavy MBTs including Leopard 2 and • Remote Weapon Station M60; which meets all mid life upgrade requirements while • Improved Survivability with bringing the combat performance of the MBTs beyond all of the • Laser Warning Receiver System existing MBTs. ASELSAN’s upgrade system solution is based • Situational Awareness System on the back-bone of the electronic infrastructure of the Turkish • Alert System National Main Battle Tank ALTAY. • Battlefield Management System • Driver’s Sight System With this upgrade solution, ASELSAN replaces all of the ele- • Fire Suppression System ctronic, electro-optic, electro-mechanical and electro-hydraulic • Improved Protection with systems of the MBTs with newly developed state of the art • Add-on Ballistic Protection Modules systems. This leads to increased performance and reduced • Add-on Mine Protection Modules Life Cycle Cost to incomparable levels with respect to any Main • Next Generation Digital Turret Solution Battle Tank has. • Maximum Performance with Minimum LRUs • Indigenous Multi-Functional Operational Scenarios Next Generation Main Battle Tank Upgrade Solution shall boost • Superior Day/Night Target Engagement Supported by the battle performance of the MBTs together with the enhan- Automatic Target cement of their defense capabilities against anti-tank missiles • Tracking of Multiple Targets and related terrorist activities.